01382 770599Lexatrade has five different account types covering budget and high-end options. The broker uses a tiered account progression where each type requires you to reach a specific threshold. The platform also offers customizable charting, allowing users to tailor the charts based on different timeframes. A classic choice, particularly in Forex trading, the MT4 platform has garnered trust from seasoned traders ever since its launch in 2005. Also keep in mind that the company is regulated (IFMRRC), which is not the fiercest of financial watchdogs, but any type of regulation is better than no regulation at all. That being said, caution should be used anytime money is involved, with all brokers, old or new.
- They will help you avoid errors in class so you can make your start in the profession even easier.
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- But as we said, we don’t like paywalls for core features as a practice, although you may not mind them at all.
- As we said earlier in our Lexatrade review, it offers a competitive trading experience, but it gets overshadowed by better companies.
- We’re nearly certain the broker made the accounts just to seem more open.
- Our in-depth and unbiased reviews help investors in choosing the best broker according to their investing needs.
The broker offers different types of accounts to its clients for better trading experience. This broker offers a balanced mix of functionality and user-friendliness. And besides, if you really want to do advanced technical analysis, https://cryptolisting.org/blog?offset=250&term= offers Meta Trader 4 so you can have the best of both worlds.
Is LexaTrade a regulated authority?
On the other hand, the majority of traders don’t need Expert Advisors, scripts and the (sometimes) stuffy interface of Meta Trader. Besides, LexaTrade’s Web platform offers all the tools that can turn a skilled trader into a profitable trader. Lexatrade has potential, but it also has a lot of things bogging it down and making numerous questionable decisions. The asset access is limited, your withdrawal requests are low priority, and the spreads are extremely high. We’re nearly certain the broker made the accounts just to seem more open. If you’ve been following our Lexatrade review, you’ve likely noticed that the broker takes a step forward and a step back.
And without the broker specifying the times, who knows how long it might take for you to get your money. As such, we don’t think you can get a competitive trading service up until the $10,000 account at least. It lowers risk diversification as well by investing in the basket of different stocks of various companies and sectors. The only extra worth mentioning is the Autochartist which is available right on the trading platform and is free of charge. It offers signals and pattern recognition and is generally regarded as a reliable tool but of course there are no guarantees that it will be profitable.
WHAT CAN BE TRADED ON LEXATRADE?
Webinars with experts, video lessons, and training materials have been selected and grouped according to the student’s level of competence. That, along with the multiple phone lines, makes the broker easy to reach. The representatives are adept at problem-solving, so the overall communication flow is great. However, better options are present online, and it’s easy for most traders to switch.
IS LEXATRADE A SCAM or SAFE?
With over 170 trading instruments, various tools, and timely risk management features, the platform ensures a high-quality trading experience overall. On the other hand, the Web platform offered for the minimum account is quite enough for the average trader, so maybe that’s not a deal breaker. LexaTrade’s MT4 web terminal is a highly secure and reliable trading platform, incorporating advanced technology and offering a seamless trading experience.
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It allows them the greatest reach, as the primary concern with the accounts is budget rather than trading style. That means the accounts suit most strategies, and as such, can attract diverse groups of traders. It offers a diverse range of payment options ranging from bank wire transfers to credit/debit cards, from Skrill to Neteller. The methods for deposit are Visa, CryptoWallet and e-Payouts and we assume the same methods will be used for withdrawals, although LexaTrade doesn’t mention this specifically. Overall this is a promising broker but a few tweaks here and there would make it a better one.
Thus, LexaTrade guides investors before they start investing through their educational resources. Investing in commodities can be a great way to diversify your portfolio and achieve long-term gains. It’s important to carefully consider options before making any investments, and LexaTrade is a trusted broker that can help you navigate this process. With their 24-hour client service team, you can get the support you need whenever you need it.
The website is translated in 6 languages, the platform is relatively easy to use and offers all the features needed by an average trader. A mobile platform is available but Demo accounts are not; US traders are not accepted. This does seem like a friendly broker, but I am not sure it’s the best choice for a total beginner, simply because the lowest deposit to open an account is $250.